Electronic Map Market: By Type (APIs, Location-Aware Data), Application (Safety, Sustainability), End-use (Navigation Software, Logistics/Last Mile System, Navigation System, Mobile Individual Safety Application, City Planning, Online Mobility Portals, Real Estate Development Tools, Smart City Applications), and Geogrphy

Electronic Map Market size was valued at USD 2.34 billion in 2022 estimated to reach at  USD 5.06 billion by 2029 growing at a significant CAGR of 7.5% from 2023-2029. Electronic maps are the data maps, where data are collected, processed, and presented into a virtual image. Their major advantages over paper maps are they can include any area of the world, they are scalable, i.e. they can be zoomed in or out, they can be easily updated with lesser cost and efforts, they can store layered data to present additional information, they are interactive, they take up very less space and they can be used anywhere at any time. These features of an electronic map have made it one of the most important and frequently usable tools for individuals, enterprises, and government bodies.

Regulatory and legal issues are one of the biggest challenges for the growth of the electronic map market. Legal issues limit the process of data collection, data analysis, and data storage, usage of geospatial information, intellectual property, and location privacy. European Union (EU) has implemented General Data Protection Regulation (GDPR) in May 2018, under which businesses need to protect EU citizens personal data and privacy, failing which leads to pay massive penalties. The Federal Aviation Administration (FAA) of the US also has some regulations which restrict the usage of location access data. Similar to EUs GDPR, California has also passed California Consumer Privacy Act (CCPA) in late June 2018, which has been effective from January 2020. Thus, enterprises and government agencies that store and process consumer data need to adhere to these regulations. These regulations mandate that the electronic map service providers can only store their customers' location data only after receiving their consent and these data should be stored with maximum security possible. Therefore, these regulations are acting as restraints in the electronic map market.